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Selected Topics Economics

Niveau

Introduction and consolidation

Learning outcomes of the courses/module

The students are able to:
• Name the essential components of a market model and discuss market equilibrium as the interaction of supply and demand.
• Name the determinants of consumer demand and explain the response to external factors such as income changes.
• Explain both potentials and limitations of market models based on real markets such as housing or labor markets and extend abstract models with increased realism.
• Understand production decisions in companies and to interpret the influences of market forms on price setting.
• Examine and critically evaluate current developments on the basis of models.
• Name the main components and institutions of an economy and explain how they function.
• Name macroeconomic indicators such as gross domestic product or consumer price index and explain their content.
• Independently research indicators for economic growth and inflation and present current developments.


Prerequisites for the course

none

Course content

Core Topics:
• Economic thinking and marginal analysis
• Efficient allocation of scarce resources
• Market model and market equilibrium
• Macroeconomic variables (GDP, inflation and unemployment) and the interrelationships

Selected economics topics:
• Elasticity and welfare
• Cost functions and optimal firm production
• Price setting and market forms
• Short-term economic fluctuations: Business cycle
• Money, the ECB and inflation
• Long-term economic growth
• International relations and trade

Recommended specialist literature

• Krugman, P., R., Wells, 2017. Volkswirtschaftslehre. 2nd edition. Munich: Schäffer Poeschel
• Pirounakis, N., 2013. Real Estate Economics: A Point-to-Point Handbook. UK: Routledge.
• Maier, G., F., Tödtling, 2012. Regional- und Stadtökonomik 1: Standorttheorie und Raumstruktur. 5th edition. Vienna: Springer
• Maier, G., F., Tödtling, 2012. Regionalentwicklung und Regionalpolitik. 4th edition. Vienna: Springer
• Rottke, N., M., Voigtländer, 2017. Immobilienwirtschaftslehre – Ökonomie. Wiesbaden: Gabler Verlag

Assessment methods and criteria

Term paper and presentation

Language

German

Number of ECTS credits awarded

10

Semester hours per week

5.0

Planned teaching and learning method

Blended Learning

Semester/trimester in which the course/module is offered

3

Type of course/module

integrated lecture

Type of course

Compulsory